Nasdaq-listed Top Win International (SORA) has received a significant boost with a $10 million investment from a consortium of investors. WiseLink spearheaded the funding round, marking a notable milestone: the first instance of a Taiwanese publicly traded firm backing a company focused on accumulating Bitcoin as a treasury asset.
According to statements from both entities, the agreement involved a three-year convertible note. This investment forms a key component of WiseLink’s strategic “Bitcoin + Cross-Border Finance” initiative.
Top Win, based in Hong Kong, is recognized for its history in the luxury watch sector, engaging in trading, distribution, and retail. However, the company strategically pivoted toward digital assets beginning in May 2025, initiating a partnership with Sora Ventures.
The firm’s revised strategy centers around holding Bitcoin on its balance sheet and strategically investing in other publicly traded companies that are adopting similar Bitcoin treasury models. This strategic shift came after Top Win went public in April 2025, accompanied by a change in its stock ticker from TOPW to SORA.
WiseLink, which trades under the symbol 8932 on the Taiwan Stock Exchange, is a fintech company that offers various financial technology services in India and develops SaaS (Software as a Service) solutions. They also have a long-standing collaborative relationship with OPPO, the smartphone manufacturer.
WiseLink’s investment in Top Win lays the groundwork for a synergistic collaboration around capital and technology. This partnership will focus on integrating Bitcoin treasury management practices with international financial operations. Top Win has indicated that the injected funds will be primarily directed toward purchasing Bitcoin, with potential allocations to publicly listed companies pursuing similar Bitcoin treasury strategies and for general working capital.
Previously, Top Win acquired shares in HK Asia Holdings and Metaplanet. The latter controls around 7,800 BTC, which are valued at approximately $800 million. Impressively, Metaplanet’s shares have experienced a surge of over 3,600% in the past year. HK Asia Holdings saw their share value increase fifteenfold after implementing a Bitcoin treasury strategy.
These strategic investments are in line with Sora Ventures’ objective to allocate a $150 million fund to support a minimum of ten publicly listed companies that incorporate Bitcoin holdings into their treasury before 2026.
In late May, Jason Fang, co-founder of Sora Ventures, assumed the roles of chairman and co-chief executive at Top Win. This executive shift is intended to spearhead the company’s initiatives in blockchain and digital assets. The company is planning regional expansion into key markets like Thailand, Taiwan, and South Korea, to scale its Bitcoin-focused capital allocation model.
The convertible note financing facilitated by WiseLink introduces a cross-border dimension to the overall strategy, linking Taiwan’s public markets with digital asset projects listed in Hong Kong. While specific details of the note, encompassing the conversion price and maturity dates, have not been made public, the framework strategically positions both companies to align long-term capital deployment with their clearly defined Bitcoin treasury ambitions.
This agreement provides Top Win with increased capacity to implement its treasury allocation plans while simultaneously offering WiseLink exposure to a hybrid platform combining retail and digital assets.
Top Win has affirmed its commitment to operating in compliance with all relevant regulatory requirements and has clarified that it does not intend to function as an investment company according to U.S. securities regulations.
The transaction, which closed before the public announcement on August 15th, marks a significant step in the company’s progression. It signifies a transition from its origins as a traditional luxury goods business to a modern entity that balances its existing physical retail operations with innovative, Bitcoin-centric capital strategies.
[Disclosure: Sora Ventures is an investor in CryptoSlate.]